No Fee Overdraft gives you the flexibility to overdraw your account up to $50 on any transaction made with your Varo Visa® Debit Card once you qualify. There are absolutely no fees or interest charges.
Meet both of these requirements to qualify:
Make at least five Varo Visa® Debit Card purchases in each calendar month, AND
Receive total payroll or government direct deposits of $1,000 or more in the same calendar month.
Once you qualify, enroll by turning on No Fee Overdraft in the app. See full terms and conditions here.
Get the coverage you need, then repay the overdraft within 30 days from when your balance first goes negative. Repayment is automatically taken from your next deposit.
Maybe you accidentally overspent at the store, or you were in a pinch at the gas station and needed to fill your car.
An online checking account with No Fee Overdraft up to $50 gives you space in your budget when you need it. If you use the feature at the gas station, it’s best to pay inside at the cashier instead of the pump.
Any questions on No Fee Overdraft? Get answers here.
Applying won’t impact your credit score.
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Varo Money, Inc. | NMLS #: 1547251 | Licenses | NMLS Consumer Access
1Source: Moebs: http://www.moebs.com/news/ctl/details/mid/484/itemid/1463
2Source: NerdWallet: https://www.nerdwallet.com/blog/banking/overdraft-fees-what-banks-charge/
Bank Account Services provided by The Bancorp Bank. The Varo Visa Debit Card is issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc and may be used everywhere Visa debit cards are accepted.
See the Varo Bank Account and Varo Savings Account Agreement for terms and conditions.